Question

Geomertric sequence- A bank account earns a constant rate of interest each month. The account was opened on March 1 aith $18,000 in it. On April 1, the balance in the account was $18045.
write explicit rule that can be used to find A(n), the balance after n months.

find the balance after 5 months.


find the balance after 5 years.

Answer 1

A₀ = 18 000(1 + 0.0025)⁰
A₁ = 18 000(1 + 0.0025)¹
A₂ = 18 000(1 + 0.0025)²
A(n) = 18 000(1 + 0.0025)ⁿ

So, after 5 months, A(n) = 18 000(1 + 0.0025)⁵ = $18 226.1278 ≈ 18 226.13

5 years is 60 months.

A₆₀ = 18 000(1 + 0.0025)⁶⁰ = $20 909.1021  ≈ $20 909.10